Suez Canal - 56 years under Egyptian control

Egypt's Suez Canal few weeks ago celebrated 56 years of its nationalization with good statistics of 3.6% revenue increase for last year.Possession of the canal passed from France to Egypt in the period when President Gamal Abdel Nasser was on throne, who made the route property of Egypt on July 26th, 1956.A day preceding the anniversary, Canal Authority Chairman Gen. Ahmed Ali Fadel said that canal revenues raised to $5.2 billion, while gross tonnage has a 4.7% increase and total quantities of goods a 9.1% increase over the same period.The first 6 months of 2012 8,573 ships passed through the canal.

The Suez Canal is important for the Egyptian economyMoney made by the canal were stable despite the unstable political and economic crises that hit the region and the whole world.Political crisis in Egypt didn't effect the Suez Canal.The growth of the revenue is a premise for investments in the Canal. Implementing new technologies and developing it in modern way like making international free trade zones. There is a potential The Suez Canal to became the main source of national income to Egypt.In the moment there are restriction for large vessels to enter the Suez Canal. Big oil tankers and container vessels cannot enter because maximum depth is only 24 meters.The Canal should be deeped with minimum 30 meters so all vessels can enter it.